TOKYO, April 25, 2011 /PRNewswire/ -- AGC announced today it is set to move into Brazil's construction and automotive glass markets, investing 40 billion yen (about 470 million USD) in an industrial state-of-the-art glass complex in Sao Paulo state. The plant will produce float glass, mirrors, coated glass and automotive laminated and tempered glass, operating under the name of AGC Vidros do Brasil Ltda.

The facility will roll out in phases starting in 2013. By 2016, the company expects to manufacture and market 220,000 tons of construction glass per year as well as automotive glass for 500,000 vehicles per year. It will employ about 500 qualified people.

AGC is forecasting robust demand in the Brazilian economy, which saw GDP grow 7.5% in 2010 and is likely to achieve stable, sustained growth in the years to come. Glass demand will be fuelled by the local construction and automotive markets. The building sector is stimulated by state investment programs in housing and by upcoming global sporting events. Numerous car makers have announced plans to expand their capacities in Brazil, the world's fourth largest market for new cars last year.

AGC intends to capitalize on Brazil's strong demand by establishing a highly efficient manufacturing base and marketing high-value products harnessing the company's advanced technologies and extensive global experience.

AGC has positioned its Second Round of Globalization initiative for business expansion in fast-growing markets as a key pillar of the company's long-term growth strategy, Grow Beyond. AGC, already operating directly in China, India and Russia, is rapidly expanding activities in these and other fast-growing markets to supply value-added products that contribute to economic development. The AGC Group aims to achieve sales exceeding 2 trillion yen (about 23 billion USD) by 2020, of which 30% is expected to be generated in fast-growing markets.

About the AGC Group

The AGC Group, with Tokyo-based Asahi Glass Co., Ltd. at its core, is the world's No. 1 supplier of flat and automotive glass and a leading producer of display glass, chemicals and other high-tech materials and components. Drawing on more than a century of technical innovation, the AGC Group has developed world-class expertise in fields including glass, fluorine chemistry and ceramics technologies. The group employs some 50,000 people worldwide and generates annual sales of more than 15 billion USD through business in about 30 countries. For more information, please visit www.agc-group.com/en.

Attachment

Key AGC Group Companies in BRIC Countries

SOURCE AGC Group